Oil & gas accounted for the largest market share in the global carbon capture, utilization, and storage market

The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period. The carbon capture, utilization, and storage market are growing due to the increasing usage of CCSU systems in the oil & gas and power generation sector to reduce harmful carbon emissions.

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Oil & gas is the dominating end-use industry in the carbon capture, utilization, and storage market. The use of CCUS in natural gas processing is one of the major drivers of the CCUS market. Various natural gas processing CCUS projects in MEA, North America, and Europe is key support or the high market size in the oil & gas industry. Increasing usage of EOR in the oil & gas industry is also driving the growth of oil & gas industry in the carbon capture, utilization, and storage market.

In 2019, there were more than 24 million tons of CO2 that was captured, stored, and utilized from the oil & gas industry, and the majority of it was extracted from natural gas processing plants. As per the EIA, natural gas generation will grow at a rate of approximately 2.7% per year between 2012 and 2040, which will account for nearly 30% of the total worldwide energy generation by 2040. The deployment of CCUS in this sector will help in creating a viable pathway for a sustainable environment.

COVID-19 has merely put any effect on the market, which is expected to grow at a significant rate in 2020 as well, owing to continuous investment in the field of carbon capture and sequestration. Currently, CCUS is being largely used across natural gas processing plants and power generation plants. The operations of these plants were not affected by the COVID-19 pandemic; as a result, lockdown imposed due to the pandemic posed very minimal impact on the CCUS market.

Current and upcoming projects of CCUS in the APAC region have created an excellent gateway toward the adoption of CCUS. China and Australia are the early adopters of CCUS in the APAC region. The current line-up of carbon capture and sequestration projects in these countries is expected to create an immense opportunity for the companies operating in the carbon capture, utilization, and sequestration ecosystem. Other than Australia and China, South Korea and India are also focusing on adopting CCUS. For instance, South Korea has already taken a step toward CCUS in the Korea CCS 1&2 project, which is currently in an early development stage and is expected to be operational by 2021. India, in 2016, initiated the operation of a carbon capture and utilization system, which was capable of capturing 60,000 tons of C02 per year from coal-fired power plants.

North America is the largest carbon capture, utilization, and storage market owing to the presence of multiple large-scale CCS facilities in the US and Canada. Century plant, Shute Creek Plant, BPundaryy Dam, Petra Nova Plant, ENID Fertiliser plant are some few projects that are operational in eth US and Canada. The carbon capture, utilization, and storage market in North America is expected to be driven by rising environmental concerns in the region. The US Supreme Court proposed a carbon trading scheme, named the US Clean Power Plan in February 2016. This scheme aims at curbing carbon pollution from power plants in the US. Canada, especially Western Canada, is dependent on fossil fuel industries. According to the US EPA, greenhouse gas emissions caused by human activities increased by 7% in the country from 1990 to 2014. The Canadian government has been taking initiatives to reduce carbon emission levels.

The key players in the global carbon capture, utilization, and sequestration market a Royal Dutch Shell (Netherlands), Aker Solutions (Norway), Mitsubishi Heavy Industries, Ltd. (Japan), Linde PLC (UK), Hitachi, tLd.(Japan), Exxon Mobil Corporation (US), JGC Holdings Corporation (Japan), Honeywell International, Inc. (US), Halliburton (US), and Schlumberger Limited (US).

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Atkore International Group Inc. (US) and Hubbell Incorporated (US) are the Key Players in the Electrical Conduit Market

 

The global electrical conduit market is estimated to be USD 6.5 billion in 2021 and is projected to reach USD 9.1 billion by 2026, at a CAGR of 6.9% from 2021 to 2026. The driving factors for the electrical conduit market is rapid pace of industrialization and urbanization, and rise in demand for electricity or power generation across the globe. The growth of the electrical conduit market is supported by increasing awareness regarding public safety and the implementation of safety regulations by governments.

Atkore International Group Inc. (US), Hubbell Incorporated (US), Legrand S.A. (France), Schneider Electric SE (France), and Sekisui Chemical Co., Ltd. (Japan) among others, are the leading electrical conduit manufacturers, globally. These key players have focused on market consolidation by adopting both organic and inorganic growth strategies such as mergers & acquisitions. These companies adopted acquisitions as the key growth strategy between 2019 and 2021.

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Atkore International Group Inc. is one of the largest player in the electrical conduit market. It engages in the manufacture of electrical raceway products, primarily for the non-residential construction and renovation markets. It operates through the Electrical Raceway and Mechanical Products and Solutions (MP&S) segments. Some of its products include electrical conduit and fittings, armored cable and fittings, cable trays, mounting systems and fittings, metal framing, and in-line galvanized mechanical tube. These are critical components of electrical infrastructure for new construction as well as for operational systems under maintenance. The company operates through 37 manufacturing facilities and 28 distribution facilities. Major subsidiaries of the company include Allied Tube & Conduit (Italy), Calpipe Industries (Spain) and Unistrut Limited (UK).

Hubbell Incorporated is the second-largest player of the global electrical conduit market. The company is a manufacturer of electrical, lighting, and power components worldwide. It operates through two segments, namely Electrical Solutions and Utility Solutions. The company offers electrical conduit products and solutions under its electrical segment. The electrical segment manufactures wiring and electrical products, lighting fixtures and controls for indoor and outdoor applications, as well as lighting and communications products. The company offers its products and solutions to various industries such as non-residential & residential construction, industrial, and energy-related (oil and gas) markets.

The company has a presence in Singapore, China, India, Mexico, South Korea, and countries in the Middle East and has a joint venture in Taiwan and Hong Kong. Hubbell has its subsidiaries in the US, Canada, Switzerland, Puerto Rico, China, Mexico, Italy, the UK, Brazil, Australia, and Ireland. It operates through 52 manufacturing facilities and 18 warehouses. Some of the key brands through which the company serves its products are Bell, Raco, Gleason Reel, Bryant, and Wiegmann.

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North America is expected to account for the largest market share in the carbon capture, utilization, and storage market

 

North America is the largest carbon capture, utilization, and sequestration market owing to the presence of multiple large-scale CCS facilities in the US and Canada. Century plant, Shute Creek Plant, BPundaryy Dam, Petra Nova Plant, ENID Fertiliser plant are some few projects that are operational in eth US and Canada. The carbon capture, utilization, and storage market in North America is expected to be driven by rising environmental concerns in the region. The US Supreme Court proposed a carbon trading scheme, named the US Clean Power Plan in February 2016. This scheme aims at curbing carbon pollution from power plants in the US. Canada, especially Western Canada, is dependent on fossil fuel industries. According to the US EPA, greenhouse gas emissions caused by human activities increased by 7% in the country from 1990 to 2014. The Canadian government has been taking initiatives to reduce carbon emission levels.

The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period. The carbon capture, utilization, and storage market are growing due to the increasing usage of CCSU systems in the oil & gas and power generation sector to reduce harmful carbon emissions.

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Capture holds the major share of the carbon capture, utilization, and storage.

Capture is the first stage of the CCUS process and involves capturing CO2 from its emission source. It can be applied to any large-scale emission process, including coal-fired power generation plants; gas and oil production; and manufacturing industries, such as cement, iron, and steel. The capture service segment holds the majority of the share in the CCUS market. Moreover, the high cost of capturing in the power generation, iron & steel, cement, and other sectors is one of the major reasons behind the high market share of the capture segment.

Oil & gas accounted for the largest market share in the global carbon capture, utilization, and storage market in terms of value.

Oil & gas is the dominating end-use industry in the carbon capture, utilization, and sequestration market. Various natural gas processing CCUS projects in MEA, North America, and Europe is key support or the high market size in the oil & gas industry. Increasing usage of EOR in the oil & gas industry is also driving the growth of oil & gas industry in the carbon capture, utilization, and sequestration market

COVID-19 has merely put any effect on the market, which is expected to grow at a significant rate in 2020 as well, owing to continuous investment in the field of carbon capture and sequestration. Currently, CCUS is being largely used across natural gas processing plants and power generation plants. The operations of these plants were not affected by the COVID-19 pandemic; as a result, lockdown imposed due to the pandemic posed very minimal impact on the CCUS market.

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Reducing corrosion costs drives the Corrosion Inhibitors Market

The cost incurred on end-use industries due to corrosion is an important factor driving the demand for corrosion inhibitors. Total costs of corrosion include the design & construction or manufacturing, the cost of corrosion-related maintenance, repair & rehabilitation, and the cost of depreciation or replacement of structures damaged due to corrosion. These costs vary from industry to industry. According to NACE International (National Association of Corrosion Engineers), the annual cost of corrosion to the oil & gas industry in the US alone is estimated at USD 27 billion. The costs can be reduced by the broader application of corrosion-resistant materials and the application of corrosion-related technical practices. Corrosion inhibitors suppress or mitigate the corrosion process of metals. They protect the metals or alloys by acting as a barrier by forming an absorbing layer or by retarding the cathodic, anodic processes causing corrosion. The use of corrosion inhibitors in these industries lowers the maintenance and repair costs, extends the useful life of the equipment, and reduces the production loss from corrosion damage. This directly reduces the corrosive costs and drives the market for corrosion inhibitors.

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The growth in the power, oil & gas, mining, and chemical industries, especially in the emerging economies, such as China, Brazil, India, Indonesia, Malaysia, Argentina, Chile, and Vietnam, drives the market for corrosion inhibitors. The exploration and development of new oil fields such as the pre-salt oil fields in Brazil, installation of new and high capacity power plants using fossil fuels, nuclear, or solar power as fuel in China and India, and the growing mining industry as a result of the increasing demand from the construction sector is expected to further drive the corrosion inhibitor market during the forecast period.

The global corrosion inhibitors market size is projected to reach USD 10.1 billion by 2026 at a CAGR of 4.9% from 2021. The increasing demand for corrosion protection chemicals in various end-use segments coupled with stringent regulatory and sustainability mandates concerning the environment is driving the market for corrosion inhibitors.

Water Treatment application will account for the major share of the corrosion inhibitor market

Water treatment accounted for 44.4% of the total corrosion inhibitor market in terms of application, in 2020. Corrosion can cause many concerns such as rusting of pipelines, equipment surfaces, and lowered efficiency of the equipment mainly in the industrial sector. Feed water use in various industries contains carbon dioxide which is corrosive to steel. If this carbon dioxide is left untreated, iron deposits on the boilers. These corrosion inhibitors are fed downstream of the deaerating equipment. It is volatilized and carried out with the steam after reacting with carbon dioxide. Corrosion inhibitors for boiler treatment include neutralizing and filming amines for condensate linings. Morpholine, cyclohexylamine, diethylethanolamine (DEAE), aminomethyl propanol, and aqua ammonia octadecylamine (ODA) are some of the common corrosion inhibitors used to protect boiler systems from corrosion.

The Middle East & Africa region is the second fastest-growing region for the corrosion inhibitor market

The region has emerging markets, such as Saudi Arabia, the UAE, Iran, Kuwait, and South Africa. The region has established oil & gas and chemical & petrochemical industries due to the abundant availability of natural resources. The oil & gas industry in the region is growing at a steady pace due to rising exports and increased exploration of reserves. Huge investments, rising population, growing disposable income, and integration of production activities are likely to increase output in the form of fuel and feedstock and, in turn, drive the corrosion inhibitors market.

Major players operating in the global corrosion inhibitor market include Solenis (US), Nouryon (The Netherlands), Baker Hughes Company (US), Ecolab (US), BASF SE (Germany), SUEZ Water Technologies & Solutions (France), DOW Chemical Company (US), Lubrizol Corporation (US), Lanxess (Germany), and Henkel Corporation (Germany).

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Partnership was the key strategies adopted by the market players in the global Carbon Capture, Utilization, and Storage Market

Carbon capture, utilization, and sequestration (also referred to as CCUS) is a process that involves capturing carbon dioxide (CO2), transporting it through pipelines, ships, and other modes of transport and storing it under the Earth’s surface to prevent CO2 emissions. This process is highly useful for curbing CO2 emissions, which lead to a better atmosphere. The growing need to reduce CO2 emissions from industrial and power plants drives the demand for CCUS system. The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period.

COVID-19 has merely put any effect on the market, which is expected to grow at a significant rate in 2020 as well, owing to continuous investment in the field of carbon capture and sequestration. Currently, CCUS is being largely used across natural gas processing plants and power generation plants. The operations of these plants were not affected by the COVID-19 pandemic; as a result, lockdown imposed due to the pandemic posed very minimal impact on the CCUS market.

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North America is the largest carbon capture, utilization, and sequestration market owing to the presence of multiple large-scale CCS facilities in the US and Canada. Century plant, Shute Creek Plant, BPundaryy Dam, Petra Nova Plant, ENID Fertiliser plant are some few projects that are operational in eth US and Canada, The carbon capture, utilization, and storage market in North America is expected to be driven by rising environmental concerns in the region. Current operational projects in eth region include Boundary Dam (Canada), Petra Nova (US), Alberta Carbon Trunk Line (ACTL (Canada), and ENID Fertiliser plant (US), among others .

Over the past years, companies have strengthened their position in the global carbon capture, utilization, and storage market by adopting expansions as a major strategy. From 2016 to 2019, the partnership was the key strategies adopted by the market players to maintain growth in the global carbon capture, utilization, and storage market.

For instance, in May 2020, Royal Dutch Shell, together with Equinor ASA (Norway), and Total SE (France) have invested in the Northern Lights carbon capture and storage (CCS) project in Norway. With this investment of USD 682.3 million, the trio intends to set up a joint-venture company. This unique project opens for the decarbonization of industries with restricted opportunities for CO2 reductions.

In November 2015, Flour Corporation signed a contract with Shell (US), wherein Flour corporation constructed Shell’s Quest Carbon Capture and Storage (CCS) project in Alberta, Canada. This project demonstrated Flour’s third-generation modular execution capabilities.

The key players in the market include Fluor Corpoation (US), Royal Dutch Shell (Netherlands), Aker Solutions (Norway), Mitsubishi Heavy Industries, Ltd. (Japan), Linde PLC (UK), Hitachi, Ltd.(Japan), Exxon Mobil Corporation (US), JGC Holdings Corporation (Japan), Honeywell International, Inc. (US), Halliburton (US), and Schlumberger Limited (US) among others. COVID-19 has majorly affected the commercial sectors CCUS projects, such as cement plants, chemical plants, and others. Moreover, Upcoming carbon capture, utilization, and storage projects are expected to delay due to the outbreak of COVID – 19 pandemic.

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Large number of upcoming projects is an excellent opportunity for the carbon capture, utilization, and sequestration Market

 

The global carbon capture, utilization, and storage market size is expected to grow from USD 1.6 billion in 2020 to USD 3.5 billion by 2025, at a CAGR of 17.0% during the forecast period. The carbon capture, utilization, and storage market are growing due to the increasing usage of CCSU systems in the oil & gas and power generation sector to reduce harmful carbon emissions.

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Current and upcoming projects of CCUS in the APAC region have created an excellent gateway toward the adoption of CCUS. China and Australia are the early adopters of CCUS in the APAC region. The current line-up of carbon capture and sequestration projects in these countries is expected to create an immense opportunity for the companies operating in the carbon capture, utilization, and sequestration ecosystem. Other than Australia and China, South Korea and India are also focusing on adopting CCUS. For instance, South Korea has already taken a step toward CCUS in the Korea CCS 1&2 project, which is currently in an early development stage and is expected to be operational by 2021. India, in 2016, initiated the operation of a carbon capture and utilization system, which was capable of capturing 60,000 tons of C02 per year from coal-fired power plants.

Recent Developments

1. In May 2020, Royal Dutch Shell, together with Equinor ASA (Norway), and Total SE (France) have invested in the Northern Lights carbon capture and storage (CCS) project in Norway. With this investment of USD 682.3 million, the trio intends to set up a joint-venture company. This unique project opens for the decarbonization of industries with restricted opportunities for CO2 reductions.
2. In November 2015, Flour Corporation signed a contract with Shell (US), wherein Flour corporation constructed Shell’s Quest Carbon Capture and Storage (CCS) project in Alberta, Canada. This project demonstrated Flour’s third-generation modular execution capabilities.

The key players in the global carbon capture, utilization, and sequestration market a Royal Dutch Shell (Netherlands), Aker Solutions (Norway), Mitsubishi Heavy Industries, Ltd. (Japan), Linde PLC (UK), Hitachi, tLd.(Japan), Exxon Mobil Corporation (US), JGC Holdings Corporation (Japan), Honeywell International, Inc. (US), Halliburton (US), and Schlumberger Limited (US).

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Microporous Insulation Market to Record Robust Growth between 2019 and 2023

The microporous insulation market size is projected to grow from USD 132 million in 2018 to USD 165 million by 2023, at a compound annual growth rate (CAGR) of 4.7%. Growth in various applications, where space is a constraint, such as aerospace & defense as well as growing demand for energy & power has triggered the demand for microporous insulation.

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The microporous insulation market has been segmented based on product type into rigid boards & panels, flexible panels, and others. The other product type segment includes moldable products, machined parts, and pourable products. The flexible panels product type is estimated to witness highest CAGR, in terms of value, during the forecast period. This is because flexible panels exhibit excellent dimensional stability and improved mechanical resistance to vibration and impact. They are energy-efficient and can be conveniently handled and transported.

The microporous insulation market has been segmented based on application, into industrial, energy & power, oil & gas, aerospace & defense, automotive, and others. The other applications include automotive and consumer appliances. The market in the aerospace & defense application segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is due to the increasing demand for light-weight materials, which, in turn, saves the fuel consumed during the operation of an aircraft.

The market in Asia Pacific (APAC) is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is because the rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the region offer various opportunities regarding the use of microporous insulation. In addition, the increase in demand for energy, power, metal, and automotive, is also expected to drive the market. The market for microporous insulation market is significantly driven by the oil & gas segment, where there is high demand for advanced insulation solutions having reduced thickness and low thermal conductivity.

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Glass Flake Coatings Market by End-Use Industry (Oil & Gas, Marine, Chemical & Petrochemical)- Global Forecast to 2022

The global glass flake coatings market size is estimated at USD 1.44 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, growing at a CAGR of 4.48%.

Glass flake coatings are advanced coatings with improved corrosion and abrasion resistance, and strong impermeability barrier resistance for chemicals and solvents. Glass flake coatings provide superior protection to steel and concrete substrates in the marine, oil & gas, chemical & petrochemical, power plants, and paper & pulp industries.

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Glass Flake Coatings Market, Based on End-use Industry:

• Oil & Gas
• Marine
• Chemical & Petrochemical
• Others

The oil & gas segment is projected to lead the market
The growth in this segment can be attributed to the increased use of glass flake coatings in offshore & onshore platforms, pipelines, tanks, submerged surfaces, concrete bunds, and associated infrastructures. Glass flake coatings provide sufficient protection to these assets and pipelines, which increases their durability by reducing the effects of the corrosive and abrasive environment under which they operate.

The Asia Pacific region is expected to be the largest market for glass flake coatings mainly due to the rapidly-growing economies of China and India in the region. This, along with the low cost of production and availability of cheap labor, has caused various chemical companies in the market to shift their production bases to the Asia Pacific region. Also, the global shipbuilding industry, a major end-user of epoxy-based glass flake coatings, is led by Asia Pacific—particularly by China, South Korea, and Japan due to the presence of the top five shipbuilding groups in the region.

Key market players in the glass flake coatings market
Key players in the glass flake coatingsmarket are Akzo Nobel (Netherlands), PPG Industries (US), Chugoku Marine (Japan), Jotun (Norway), Hempel (Denmark), The Sherwin-Williams Company (US), KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US).

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Anionic Surfactants Market- Current Trends and Future Aspect 2022

The global anionic surfactants market is estimated at USD 16.36 billion in 2017 and is projected to reach USD 20.10 billion by 2022 at a CAGR of 4.2%. The market is mostly driven by the growing number of applications in home care, personal care, oil & gas, and construction industries. Factors such as technological advances, increasing working population, rising incomes, and changing consumer preferences are driving the anionic surfactants market. The demand for anionic surfactants is growing as they provide multifunctional properties to various personal care products such as skin creams, sunscreens, anti-aging creams, anti-acne creams, hair conditioners, and hair shampoos, among others. The growing awareness among consumers regarding the availability of products with multifunctional properties and rising concern for personal hygiene are also driving the demand in the home care segment.

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The anionic surfactants market, on the basis of type, has been classified into linear alkylbenzene sulfonate (LAS), lignosulfonates, alcohol ether sulfates/fatty alcohol sulfates (AES/FAS), alkyl sulfates/ether sulfates, sarcosinates, alpha olefin sulfonates (AOS), phosphate esters, and alkyl naphthalene sulfonates, among others.

Lignosulfonates is expected to be the fastest-growing type segment during the forecast period. Lignosulfonates are water-soluble anionic surfactants used in applications in industries such as construction, oil & gas, etc. They are the by-products obtained from the production of wood pulp using sulfite pulping. Typical application areas of lignosulfonates are concrete additives, crop protection, pigment dispersion, fertilizers, and leather tanning, among others.

The construction application segment of the anionic surfactants market is expected to witness the highest growth during the forecast period. The anionic surfactants market in the construction industry is witnessing high growth in various regions such as the Middle East and Asia Pacific, especially in countries such as China, India, the UAE, and Saudi Arabia, among others. These factors, along with the upcoming infrastructure projects in the energy and manufacturing sectors in Saudi Arabia, are expected to drive the market in the region.

Asia Pacific is expected to be the fastest-growing market for anionic surfactants. Rapid industrialization, coupled with the growing personal care and home care industries, is expected to drive the market in the region. Rising disposable incomes of consumers and changing lifestyles play a significant role in boosting the demand for anionic surfactants. In Asia Pacific, China is the largest market for anionic surfactants owing to its rapidly growing home care and personal care industries. Improved lifestyles, increasing standards of living, increasing population, and high economic growth of the emerging countries such as China, South Korea, India, and Indonesia have made Asia Pacific an attractive market for personal care and home care products. The increasing population and availability of affordable products are primarily responsible for the high demand for personal care ingredients in the region.

Glass flake coatings market- Forecast & Opportunities 2022

The glass flake coatings market is projected to reach USD 1.80 billion by 2022, at a CAGR of 4.48% from 2017 to 2022. Asia Pacific is estimated to lead the market for glass flake coatings in 2017, in terms of value, due to the increased demand for glass flake coatings from countries such as China, South Korea, Japan, India, and Indonesia.

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The presence of key players of glass flake coatings in the Asia Pacific region is one of the main factors driving the growth of the market in this region. Key players in the market, such as Chugoku Marine (Japan), KCC Corporation (South Korea), Nippon Paint (Japan), and Kansai Paint (Japan), have their manufacturing bases in Asia Pacific. Other top companies operating in the global glass flake coatings market are also shifting their production bases to Asia Pacific, owing to the low cost of production and ease of serving emerging local markets. The glass flake coatings in the marine industry will be dominated by Asia Pacific, particularly China, South Korea, and Japan, due to the presence of major shipbuilding companies in these countries. The rapid developments in glass flake coating technology in India, Indonesia, and Australia, is another reason expected to fuel the growth of the Asia Pacific glass flake coatings market.

Based on resin, the epoxy segment is expected to witness the highest growth during the forecast period. The growth of this segment can be attributed to the increasing use of epoxy-based glass flake coatings in the building of marine offshore & onshore infrastructures, large cargo ships, interior & exterior of storage tanks, and various chemical processing areas. Epoxy glass flake coatings impart excellent corrosion, abrasion, chemical, and temperature resistance to oil, gas, solvents, and chemical & petrochemical products.

Based on substrate, the steel segment is projected to witness the highest growth during the forecast period. Steel meets the strength and toughness criteria required for the manufacture of pipes for the oil & gas; tanks for the chemical & petrochemical; and various parts of cargo ships for the marine end-use industries. The use of glass flake coatings protects steel from corrosion, fouling, and abrasion.

Based on end-use industry, the marine segment is projected to witness the highest growth during the forecast period. This is due to increase in use of glass flake coatings to protect cargo ships and various onshore & offshore infrastructures from harsh weather conditions. Glass flake coatings are also vital in enhancing the fuel efficiency of a ship and decreasing the impact on the environment.

Compressor Rental Market by End-Use Industry (Construction, Mining, Oil & Gas, Power, Manufacturing)- Global Forecast to 2026

The Compressor Rental Market is projected to reach USD 5.53 Billion by 2026, at a CAGR of 6.4% between 2016 and 2026.

Increasing demand for pneumatic tools in the construction and manufacturing end-use industries is fueling the growth of the compressor rental market. Even though, the mining equipment market was experiencing a lull over the past few years, it began to witness a positive trend, in terms of demand for mining equipment since 2015. Air compressors are best suited for heavy duty applications in mining operations. The revival of the mining equipment market is expected to have a positive impact on the growth of the compressor rental market during the forecast period.

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Based on end-use industry, the construction segment led the compressor rental market 

The growth of the construction segment of the compressor rental market can be attributed to growth of various sectors, such as residential & commercial construction, infrastructure development, demolition & road building equipment, and civil engineering in the Asia-Pacific region. Compressors are considered to be the most efficient tools for bulk handling & lifting as well as drilling applications in the construction industry. Increased use of compressors in the construction industry is one of the driving factors for the compressor rental market.

Technologically advanced air compressors are preferred as pneumatic power tools in commercial applications. They are used as jackhammers, pneumatic drills, pneumatic nail guns, and air saws, among others. Increasing demand for these pneumatic tools in the construction and manufacturing end-use industries is driving the demand for compressors, thereby fueling the growth of the compressor rental market.

China is the largest market for compressor rental in the Asia-Pacific region, owing to the continuous growth of the chemical and mining industries in the country. Growth of the construction and general manufacturing industries in China is also projected to fuel the demand for compressor rental in the country, thereby contributing to the growth of the Asia-Pacific compressor rental market during the forecast period.

Atlas Copco, Ingersoll Rand, Hertz Equipment Rental Corporation, and United Rentals, Inc., among others are the leading players operating in the compressor rental market. These leading players primarily concentrate on acquisitions to expand their geographical reach, globally. The competitiveness in the compressor rental market is increasing due to growing capacities of companies and increasing number of agreements taking place between them. Various strategic growth activities have been adopted by key players, such as Atlas Copco, Ingersoll Rand, and United Rentals, Inc., among others to strengthen their position in the compressor rental market. These market players are concentrating more on inorganic growth strategies than organic growth strategies. Expansions and new product launches are some of the key strategies adopted by these leading players to grow in the compressor rental market.

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Microporous Insulation Market worth $165 million by 2023

The report “Microporous Insulation Market by Product Type (Rigid boards & panels, flexible panels, machined parts, moldable products), Application (Industrial, Energy & Power, Oil & Gas, Aerospace & Defense, Automotive), and Region – Global Forecast to 2023″ The microporous insulation market size is projected to reach USD 165 million by 2023, at a CAGR of 4.7%, from an estimated USD 132 million, in 2018.

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Browse 106 market data Tables and 37 Figures spread through 138 Pages and in-depth TOC on “Microporous Insulation Market”

The flexible panels product type segment of the market is projected to register the highest CAGR, in terms of value, during the forecast period.

 The flexible panels product type segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. This is because flexible panels exhibit excellent dimensional stability and improved mechanical resistance against vibration and impact. They are energy-efficient and can be conveniently handled and transported. In addition, its growing demand from various applications, such as pipelines in the oil & gas sector; fuel cells in energy & power sector; filler materials in heat shield in the aerospace & defense sector; passive fire protection; vessel & reactors in the industrial sector; and others.

The aerospace & defense application segment of the microporous insulation market is projected to register the highest CAGR, in terms of value, between 2018 and 2023.

 The aerospace & defense application segment is projected to register the highest CAGR, in terms of value, between 2018 and 2023. The demand for microporous insulation is increasing in the aerospace application due to increasing demand for light-weight materials, which in turn, saves the fuel consumed during operation of an aircraft. In addition, the use of microporous insulation provides high performance and helps to meet the space and weight specifications in the aerospace sector. It is the most demanding sector in terms of performance & reliability due to operational and safety reasons.  

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Asia Pacific is projected to register the highest CAGR, in terms of value, in the microporous insulation market, between 2018 and 2023.

The microporous insulation market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR, in terms of value, during the forecast period. The growth of the microporous insulation market in the region is attributed to the rising awareness about the benefits of microporous insulation materials and growing industrialization and infrastructure development in the region. In addition, increase in the demand for energy, power, metal, and automobiles is also expected to drive the market.

The key players in the microporous insulation market include Promat International N.V. (Belgium), Morgan Advanced Materials plc (UK), Isoleika S. Coop. (Spain), Unicorn Insulations Ltd. (China), Guangzhou Huineng Environmental Protection Materials Co., Ltd. (SILTHERM) (China), Johns Manville (US), Nichias Corporation (Japan), ThermoDyne (US), Unifrax (US), and Elmelin Ltd. (UK).  

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Paper is the key end-use industry for CHPTAC

Increased use of paper and paper products with the increasing modernization and industrialization drives the paper industry in Asia-Pacific, making it an attractive market for CHPTAC. China’s paper industry drives the market for CHPTAC in the country with China being the largest market. Asia-Pacific is the fastest-growing market for CHPTAC, followed by Europe and North America which are growing at almost the same pace. The U.S., Thailand, and China are the world’s largest markets for CHPTAC in various end-use industries which include paper, water treatment, oil & gas, etc. Moreover, China and India are projected to be the fastest-growing economies between 2015 and 2020. The U.S. accounted for largest share of the CHPTAC market for starch modification. The U.S. is one of the largest producers of corn and maize for which it is one of the key producers of modified starch, which makes it the largest market for CHPTAC.

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The paper industry in the developed and developing counties offers growth opportunities. Supported by favorable growth in a number of end-use industries with small shares in the personal care, textile, dye, chemicals, nutraceuticals, and cosmetics of CHPTAC, the overall CHPTAC market remains attractive during the forecast period.

The top countries in terms of demand of CHPTAC are U.S., Thailand, China, and the Netherlands, among others.

The market for CHPTAC (3-chloro-2-hydroxypropyl)trimethylammonium chloride is growing at an average pace, with Asia-Pacific leading in terms of demand, followed by Europe and North America. The CHPTAC industry is segmented by its end-use industries which include paper, textile, water treatment, oil & gas, and others (personal care, dye, nutraceuticals, cosmetics, and chemicals). The paper industry accounts for the maximum share of CHPTAC produced globally. In terms of volume, the CHPTAC market is projected to register a CAGR of 3.3% between 2015 and 2020. The fastest-growing application of CHPTAC is projected to register a growth rate of 3.7% during the forecast period.

This report follows both top-down and bottom-up approaches to estimate and forecast the CHPTAC market by volume and value. This report focuses on the CHPTAC market by its end-use industry and region.

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